The Nigerian equities market kicked off this week’s trading on a negative note with the Nigerian Exchange Limited, NGX All-Share Index losing 0.29% (0.3) from last Friday’s 53,098.46 basis points to close at 52,944.09 basis points.
Similarly, the market capitalization lost 0.29% (0.3) or ₦84.17bn to close at ₦28.543trn from ₦28,626trn obtained from the previous trading session.
Today’s loss is being attributed to profit-taking in LAFARGE AFRICA PLC (-8.28%), MTN NIGERIA COMMUNICATIONS PLC (-0.61%), and INTERNATIONAL BREWERIES PLC (-9.09%) dragging the index lower.
Analysis of Monday’s market activities showed a total of 374.18m shares valued at ₦4.96bn were exchanged in 6,854 deals.
TRANSNATIONAL CORPORATION PLC was the most traded stock by volume at 88.59 million units, while SEPLAT ENERGY PLC was the most traded stock by value at ₦1.41 billion.
As measured by market breadth, market sentiment was positive as 27 stocks appreciated in price, relative to 20 losers.
Top on the list of the gainers is MCNICHOLS PLC which appreciated from a previous selling price of N1.34k per share to close at N1.47, gaining 0.13k or 9.70%.
Next is N NIG. FLOUR MILLS PLC with an upward move from N9.95k per share to N10.90k by 0.95k or 9.55%.
While TRANSNATIONAL CORPORATION PLC increased from N1.35k per share to N1.40k per share by 0.11k or 8.53%.
CHAMPION BREW. PLC. led the losers with a decline from N4.37k per share to N3.94k per share, losing 0.43k or 9.84%.
Followed by GLAXO SMITHKLINE CONSUMER NIG. PLC with a drop from N7.90k per share to close the day at N7.15k, losing 0.75k or 9.49%.
INTERNATIONAL BREWERIES PLC was the 3rd top looser for the day falling from N8.80k per share to N8.00 per share by 0.80k or 9.09%.
Sector performance was broadly negative, as the Consumer Goods index fell 0.7%, Industrial Goods index fell 0.6%, and Banking index fell 0.2%, while the Insurance and Oil & Gas indices advanced by 2.5% and 0.6% respectively.
